Gurugram-based SaaS startup Fleetx.io has raised ₹113 crore in a Series C funding round, combining both primary and secondary investments. Existing investors IndiaMART Intermesh and BEENEXT’s Accelerate Fund led the round. With this capital, Fleetx plans to double down on product development, expand its sales operations, and deepen its presence among mid-market and enterprise clients in India.
Driving Logistics Innovation With AI and IoT
Fleetx.io has emerged as a powerful force in the logistics technology sector by solving complex supply chain and fleet management challenges using artificial intelligence and the Internet of Things. Since its inception in 2017, the startup has steadily built a suite of intelligent tools to help businesses streamline transportation, monitor vehicle health, reduce pilferage, track shipments in real-time, and optimize operations.
CEO and Co-founder Vineet Sharma underlined the company’s strategic direction during the funding announcement. “As we sit on the huge logistics data points, we’re in a unique position to leverage AI to tackle some of the most complex challenges in the sector. We will continue to invest aggressively in our product capabilities while building a durable, efficient business delivering measurable value to our customers,” he stated.
Fleetx’s deep tech infrastructure enables clients to unlock operational insights, improve asset utilization, and cut costs. Their SaaS platform collects millions of logistics data points from GPS, telematics devices, fuel sensors, and driver behavior analytics to provide intelligent dashboards and alerts.
Serving India’s Industrial Giants
Fleetx currently serves over 2,000 businesses across critical sectors including transportation, manufacturing, cement, mining, FMCG, and retail. Their clientele includes industry leaders such as Ultratech Cement, Hindalco, AM/NS India, Adani Group, Godrej, Maersk, Panasonic, Unilever, Shree Cement, Vedanta, DTDC, Grasim, and Bisleri.
These businesses rely on Fleetx to modernize their fleet operations and gain real-time visibility across vast and complex supply chains. For example, cement manufacturers use Fleetx to ensure on-time deliveries across rural and urban construction markets, while FMCG companies track perishable shipments using IoT-based temperature and location monitoring.
Fleetx integrates with various data sources and ERP systems, allowing clients to make informed, data-driven decisions. Their analytics-driven approach also helps reduce fuel costs, detect inefficiencies, prevent theft, and monitor compliance, thus delivering tangible ROI.
Strong Backing from IndiaMART and BEENEXT
IndiaMART Intermesh, one of Fleetx’s earliest supporters, reaffirmed its commitment to the company. Dinesh Agarwal, Founder and CEO of IndiaMART, expressed strong confidence in the partnership. “Fleetx has shown strong product–market fit and disciplined execution in tackling logistics challenges. Their AI and IoT platform aligns well with our vision of empowering businesses, and we’re glad to deepen our partnership,” he said.
BEENEXT’s Accelerate Fund also increased its investment in Fleetx. Hero Choudhary, Managing Partner at BEENEXT, praised the startup’s strategy. “Fleetx stands out for its capital-efficient growth and sharp focus on logistics tech. We believe they’re well-positioned to build a globally relevant SaaS business from India,” he stated.
Fleetx’s focus on product innovation and measured financial discipline convinced investors of its ability to sustain long-term growth. Unlike high-burn startups, Fleetx has shown a clear path toward profitability without compromising on scalability or product evolution.
Founders with Vision and Execution
The founding team—Vineet Sharma, Abhay Jeet Gupta, Vishal Misra, Udbhav Rai, and Parveen Kumar Kataria—brings a powerful mix of domain knowledge, technical expertise, and startup experience. They founded Fleetx in 2017 to address the inefficiencies plaguing Indian logistics, especially in unorganized fleets and industrial supply chains.
Their vision to digitize logistics from the ground up led to the creation of a platform that combines location intelligence, vehicle tracking, AI-driven analytics, and mobile-first interfaces. The founders continue to drive the company’s roadmap with a clear focus on enterprise-grade performance and sector-specific solutions.
Vineet Sharma confirmed that the new funding round provides sufficient runway to reach full profitability within a year. “This round gives us more than enough runway to become fully profitable within the next year and prepare the company for IPO readiness,” he said.
Targeting Mid-Market and Enterprise Clients
Fleetx intends to use the fresh capital to scale across mid-market and large enterprise segments, especially in Tier 1 and Tier 2 industrial cities. The company aims to hire aggressively in sales, customer success, and product engineering while also enhancing regional support infrastructure.
By focusing on India’s booming industrial and manufacturing economy, Fleetx plans to onboard clients that manage thousands of daily shipments across fragmented logistics networks. These organizations demand reliability, real-time insights, and integration with legacy systems—an area where Fleetx excels.
Fleetx also seeks to expand its ecosystem partnerships by collaborating with logistics service providers, vehicle OEMs, insurance companies, and warehouse operators. These integrations will help create a more unified logistics intelligence stack for businesses.
Future Roadmap and IPO Vision
Fleetx’s roadmap includes more advanced AI-powered tools that automate route planning, identify bottlenecks before they occur, and provide predictive maintenance recommendations based on machine learning. The platform will also expand multilingual support and add deeper modules tailored to cement, mining, FMCG, and cold-chain logistics.
The company plans to use the current momentum to ready itself for public markets. Profitability, strong governance, and consistent client acquisition remain central to that goal. The founders believe that India’s growing appetite for SaaS IPOs will align well with Fleetx’s financial milestones and category leadership.
Fleetx also envisions global expansion, with plans to pilot in select Southeast Asian markets after solidifying its leadership in India. Their capital-efficient approach gives them flexibility to test new regions without straining core operations.
Conclusion
Fleetx.io has emerged as a frontrunner in the logistics technology space by blending AI, IoT, and SaaS into a powerful platform that solves real-world problems. With ₹113 crore in fresh funding, the startup will amplify its impact across India’s industrial ecosystem, delivering automation, efficiency, and real-time intelligence to over 2,000 companies.
As it advances toward profitability and IPO readiness, Fleetx positions itself as a globally relevant SaaS business built on innovation, execution, and measurable value. By enabling smarter logistics, Fleetx is not just optimizing fleets—it’s powering the future of India’s supply chain infrastructure.